Xingyi City publicly tried a case of virtual currency "mining" pyramid scheme, involving tens of millions of yuan

The People's Court of Xingyi City, Guizhou Province has publicly heard a case of the crime of organizing and leading pyramid schemes. Defendant Qin Moumou used virtual currency "mining" as a guise to lure more than 70 people to participate in pyramid schemes, involving tens of millions of yuan in funds. It is reported that the company launched a short-term rental computing power custody business, claiming to lease "computing power" to customers to lure participants to continue to develop relatives and friends for investment. According to the facts found in the trial and the sentencing circumstances, the court sentenced the defendant Qin Moumou to two years and six months in prison for the crime of organizing and leading pyramid schemes.